Self-Regulatory Organizations; CboeBZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Shares of the iShares California Short Maturity Muni Bond ETF of the iShares U.S. ETF Trust Under Rule 14.11(i), Managed Fund Shares, 6587-6588 [2020-02203]

Download as PDF 6587 Federal Register / Vol. 85, No. 24 / Wednesday, February 5, 2020 / Notices For the Board of Actuaries. Alexys Stanley, Regulatory Affairs Analyst. [FR Doc. 2020–02177 Filed 2–4–20; 8:45 am] BILLING CODE 6325–63–P RAILROAD RETIREMENT BOARD Proposed Collection; Comment Request Summary: In accordance with the requirement of Section 3506(c)(2)(A) of the Paperwork Reduction Act of 1995 which provides opportunity for public comment on new or revised data collections, the Railroad Retirement Board (RRB) will publish periodic summaries of proposed data collections. Comments are invited on: (a) Whether the proposed information collection is necessary for the proper performance of the functions of the agency, including whether the information has practical utility; (b) the accuracy of the RRB’s estimate of the burden of the collection of the information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden related to the collection of information on respondents, including the use of automated collection techniques or other forms of information technology. Title and purpose of information collection: Vocational Report; OMB 3220–0141. Under Section 2 of the Railroad Retirement Act (RRA) (45 U.S.C. 231a) provides for payment of disability annuities to qualified employees and widow(er)s. The establishment of permanent disability for work in the applicant’s ‘‘regular occupation’’ or for work in any regular employment is prescribed in 20 CFR 220.12 and 220.13, respectively. To enable the Railroad Retirement Board (RRB) to determine the effect of a disability on an applicant’s ability to work, the RRB needs the applicant’s work history. The RRB utilizes Form G– 251, Vocational Report, to obtain this information. Form G–251 is provided to all applicants for employee disability annuities and to those applicants for a widow(er)’s disability annuity who indicate that they have been employed at some time. Form G–251 is designed for use with the RRB’s disability benefit application forms. Form G–251 is similar to Form SSA–3369–BK, OMB 0960–0578. The RRB proposes the no changes to the Form G–251. ESTIMATE OF ANNUAL RESPONDENT BURDEN Annual responses Form No. Burden (hours) G–251 (with assistance) .............................................................................................................. G–251 (without assistance) ......................................................................................................... 5,730 270 40 50 3,820 225 Total ...................................................................................................................................... 6,000 ........................ 4,045 Additional information or comments: To request more information or to obtain a copy of the information collection justification, forms, and/or supporting material, contact Kennisha Tucker at (312) 469–2591 or Kennisha.Tucker@rrb.gov. Comments regarding the information collection should be addressed to Brian Foster, Railroad Retirement Board, 844 North Rush Street, Chicago, Illinois 60611– 1275 or emailed to Brian.Foster@rrb.gov. Written comments should be received within 60 days of this notice. Brian Foster, Clearance Officer. [FR Doc. 2020–02252 Filed 2–4–20; 8:45 am] BILLING CODE 7905–01–P jbell on DSKJLSW7X2PROD with NOTICES Time (minutes) SECURITIES AND EXCHANGE COMMISSION [Release No. 34–88089; File No. SR– CboeBZX–2019–068] Self-Regulatory Organizations; CboeBZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Shares of the iShares California Short Maturity Muni Bond ETF of the iShares U.S. ETF Trust Under Rule 14.11(i), Managed Fund Shares January 30, 2020. On July 19, 2019, Cboe BZX Exchange, Inc. (‘‘BZX’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to allow the JPMorgan Core Plus Bond ETF of the J.P. Morgan Exchange-Traded Fund Trust to list and trade shares (‘‘Shares’’) of the iShares California Short Maturity Muni Bond ETF (‘‘Fund’’) of the iShares U.S. ETF Trust 1 15 2 17 VerDate Sep<11>2014 18:54 Feb 04, 2020 Jkt 250001 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00091 Fmt 4703 Sfmt 4703 under BZX Rule 14.11(i). The proposed rule change was published for comment in the Federal Register on August 7, 2019.3 On September 19, 2019, pursuant to Section 19(b)(2) of the Act,4 the Commission extended the time period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to approve or disapprove the proposed rule change.5 On October 1, 2019, the Exchange filed Amendment No. 1 to the proposed rule change, which replaced in its entirety the proposed rule change as originally submitted.6 On October 30, 2019, the Commission instituted proceedings pursuant to Section 19(b)(2)(B) of the Act 7 to determine whether to approve or disapprove the proposed rule change.8 The Commission has received no comment letters on the proposed rule change. 3 See Securities Exchange Act Release No. 86546 (August 1, 2019), 84 FR 38689. 4 15 U.S.C. 78s(b)(2). 5 See Securities Exchange Act Release No. 87018, 84 FR 50501 (September 25, 2019). 6 Amendment No. 1 is available at: https:// www.sec.gov/comments/sr-cboebzx-2019-068/ srcboebzx2019068-6362715-196411.pdf. 7 15 U.S.C. 78s(b)(2)(B). 8 See Securities Exchange Act Release No. 87421, 84 FR 59669 (November 5, 2019). E:\FR\FM\05FEN1.SGM 05FEN1 6588 Federal Register / Vol. 85, No. 24 / Wednesday, February 5, 2020 / Notices Section 19(b)(2) of the Act 9 provides that, after initiating disapproval proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change. The Commission may extend the period for issuing an order approving or disapproving the proposed rule change, however, by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination. The proposed rule change was published for notice and comment in the Federal Register on August 7, 2019. February 3, 2020 is 180 days from that date, and April 3, 2020 is 240 days from that date. The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,10 designates April 3, 2020 as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR–CboeBZX–2019–068). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–02203 Filed 2–4–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–794, OMB Control No. 3235–0737] Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736. jbell on DSKJLSW7X2PROD with NOTICES Extension: Rule 22e–4. Notice is hereby given that, under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501–3520), the Securities and Exchange Commission (the ‘‘Commission’’) is soliciting comments on the collections of information summarized below. The Commission plans to submit this existing collection 9 15 U.S.C. 78s(b)(2). 10 Id. 11 17 CFR 200.30–3(a)(57). VerDate Sep<11>2014 18:54 Feb 04, 2020 Jkt 250001 of information to the Office of Management and Budget for extension and approval. Section 22(e) of the Investment Company Act of 1940 (‘‘Investment Company Act’’) provides that no registered investment company shall suspend the right of redemption or postpone the date of payment of redemption proceeds for more than seven days after tender of the security absent specified unusual circumstances. The provision was designed to prevent funds and their investment advisers from interfering with the redemption rights of shareholders for improper purposes, such as the preservation of management fees. Although section 22(e) permits funds to postpone the date of payment or satisfaction upon redemption for up to seven days, it does not permit funds to suspend the right of redemption for any amount of time, absent certain specified circumstances or a Commission order. Rule 22e–4 under the Act [17 CFR 270.22e–4] requires an open-end fund and an exchange-traded fund that redeems in kind (‘‘In-Kind ETF’’) to establish a written liquidity risk management program that is reasonably designed to assess and manage the fund’s or In-Kind ETF’s liquidity risk. The rule also requires board approval and oversight of a fund’s or In-Kind ETF’s liquidity risk management program and recordkeeping. Rule 22e–4 also requires a limited liquidity review, under which a UIT’s principal underwriter or depositor determines, on or before the date of the initial deposit of portfolio securities into the UIT, that the portion of the illiquid investments that the UIT holds or will hold at the date of deposit that are assets is consistent with the redeemable nature of the securities it issues and retains a record of such determination for the life of the UIT and for five years thereafter. The following estimates of average burden hours and costs are made solely for purposes of the Paperwork Reduction Act and are not derived from a comprehensive or even representative survey or study of the cost of Commission rules and forms. Commission staff estimates that funds within 846 fund complexes are subject to rule 22e–4. Compliance with rule 22e–4 is mandatory for all such funds and In-Kind ETFs, with certain program elements applicable to certain funds within a fund complex based upon whether the fund is an In-Kind ETF or does not primarily hold assets that are highly liquid investments. The Commission estimates that a fund complex will incur a one time average burden of 40 hours associated with PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 documenting the liquidity risk management programs adopted by each fund within a fund complex, in addition to a one time burden of 10 hours per fund complex associated with fund boards’ review and approval of the funds’ liquidity risk management programs and preparation of board materials. We estimate that the total burden for initial documentation and review of funds’ written liquidity risk management program will be 42,300 hours. Rule 22e–4 requires any fund that does not primarily hold assets that are highly liquid investments to determine a highly liquid investment minimum for the fund, which must be reviewed at least annually, and may not be changed during any period of time that a fund’s assets that are highly liquid investments are below the determined minimum without approval from the fund’s board of directors. We estimate that fund complexes will have at least one fund that will be subject to the highly liquid investment minimum requirement. Thus, we estimate that 846 fund complexes will be subject to this requirement under rule 22e–4 and that the total burden for preparation of the board report associated will be 11,844 hours. Rule 22e–4 requires a fund or In-Kind ETF to maintain a written copy of the policies and procedures adopted pursuant to its liquidity risk management program for five years in an easily accessible place. The rule also requires a fund to maintain copies of materials provided to the board in connection with its initial approval of the liquidity risk management program and any written reports provided to the board, for at least five years, the first two years in an easily accessible place. If applicable, a fund must also maintain a written record of how its highly liquid investment minimum and any adjustments to the minimum were determined, as well as any reports to the board regarding a shortfall in the fund’s highly liquid investment minimum, for five years, the first two years in an easily accessible place. We estimate that the total burden for recordkeeping related to the liquidity risk management program requirement of rule 22e–4 will be 3,384 hours. We estimate that the hour burdens and time costs associated with rule 22e– 4 for open-end funds, including the burden associated with (1) funds’ initial documentation and review of the required written liquidity risk management program, (2) reporting to a fund’s board regarding the fund’s highly liquid investment minimum, and (3) recordkeeping requirements will result E:\FR\FM\05FEN1.SGM 05FEN1

Agencies

[Federal Register Volume 85, Number 24 (Wednesday, February 5, 2020)]
[Notices]
[Pages 6587-6588]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-02203]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-88089; File No. SR-CboeBZX-2019-068]


Self-Regulatory Organizations; CboeBZX Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change, as 
Modified by Amendment No. 1, To List and Trade Shares of the iShares 
California Short Maturity Muni Bond ETF of the iShares U.S. ETF Trust 
Under Rule 14.11(i), Managed Fund Shares

January 30, 2020.
    On July 19, 2019, Cboe BZX Exchange, Inc. (``BZX'') filed with the 
Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ 
and Rule 19b-4 thereunder,\2\ a proposed rule change to allow the 
JPMorgan Core Plus Bond ETF of the J.P. Morgan Exchange-Traded Fund 
Trust to list and trade shares (``Shares'') of the iShares California 
Short Maturity Muni Bond ETF (``Fund'') of the iShares U.S. ETF Trust 
under BZX Rule 14.11(i). The proposed rule change was published for 
comment in the Federal Register on August 7, 2019.\3\ On September 19, 
2019, pursuant to Section 19(b)(2) of the Act,\4\ the Commission 
extended the time period within which to approve the proposed rule 
change, disapprove the proposed rule change, or institute proceedings 
to determine whether to approve or disapprove the proposed rule 
change.\5\ On October 1, 2019, the Exchange filed Amendment No. 1 to 
the proposed rule change, which replaced in its entirety the proposed 
rule change as originally submitted.\6\ On October 30, 2019, the 
Commission instituted proceedings pursuant to Section 19(b)(2)(B) of 
the Act \7\ to determine whether to approve or disapprove the proposed 
rule change.\8\ The Commission has received no comment letters on the 
proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 86546 (August 1, 
2019), 84 FR 38689.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 87018, 84 FR 50501 
(September 25, 2019).
    \6\ Amendment No. 1 is available at: https://www.sec.gov/comments/sr-cboebzx-2019-068/srcboebzx2019068-6362715-196411.pdf.
    \7\ 15 U.S.C. 78s(b)(2)(B).
    \8\ See Securities Exchange Act Release No. 87421, 84 FR 59669 
(November 5, 2019).

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[[Page 6588]]

    Section 19(b)(2) of the Act \9\ provides that, after initiating 
disapproval proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180 days after 
the date of publication of notice of filing of the proposed rule 
change. The Commission may extend the period for issuing an order 
approving or disapproving the proposed rule change, however, by not 
more than 60 days if the Commission determines that a longer period is 
appropriate and publishes the reasons for such determination. The 
proposed rule change was published for notice and comment in the 
Federal Register on August 7, 2019. February 3, 2020 is 180 days from 
that date, and April 3, 2020 is 240 days from that date.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change so that it has sufficient time to consider the proposed 
rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Act,\10\ designates April 3, 2020 as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-CboeBZX-2019-068).
---------------------------------------------------------------------------

    \10\ Id.
    \11\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-02203 Filed 2-4-20; 8:45 am]
 BILLING CODE 8011-01-P
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